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Keppel Corporation Limited (SG:BN4)
SGX:BN4
Earnings Data
Report Date
Apr 16, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
―Last Year’s EPS
0.29Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong operational and strategic progress for the "New Keppel" — marked by robust New Keppel net profit (+39% to $1.1bn), FUM expansion to $95bn, record Infrastructure recurring earnings, and active asset monetization and shareholder returns (total dividends up 38%, TSR 58.5%). At the same time, the consolidated group was weighed down by discontinued operations (notably the M1 telco remeasurement loss), legacy O&M losses, fair value pressures in some noncore and China assets, and an acknowledged lumpy monetization runway for a $13.5bn noncore portfolio. Overall, management presented confidence in continuing growth of the asset-management-and-operator model, while acknowledging pockets of legacy drag and timing uncertainty in monetization.Company Guidance
New Keppel Net Profit Growth
Net profit of the New Keppel rose 39% year-on-year to $1.1 billion (FY2025), with improvements across all three operating segments and a stronger ROE for the New Keppel of 18.7% (up from 14.9% a year earlier).
Funds Under Management Expansion
Funds under management (FUM) increased from $88 billion to $95 billion in FY2025, on track to the $100 billion target by end-2026; FUM has grown at a compound annual growth rate of about 20% over the past five years.
Asset Management Fee Momentum
Asset management fees generated $453 million in FY2025; asset management profit increased 15% to $189 million (management commentary), and active fundraising and portfolio growth added $10.1 billion of new FUM during the year.
Record Infrastructure Recurring Earnings
Infrastructure delivered record recurring earnings of $703 million in FY2025. The integrated power business reported resilient EBITDA of $661 million, while decarbonization and sustainability solutions EBITDA rose 32% year-on-year to $130 million.
Strong Connectivity and Data Center Positioning
Data center power bank expanded from ~300 MW to over 1 GW in Asia Pacific (including a Melbourne site earmarked for a future 720 MW AI campus). Management estimates the >1 GW power bank, when activated, could translate into about $10 billion of data center FUM.
Asset Monetization Progress
Announced monetizations of about $2.9 billion in 2025 and completed transactions with a gross monetization value of about $1.6 billion in FY2025; total announced monetization since Oct 2020 reached approximately $14.5 billion. Noncore portfolio for divestment stands at $13.5 billion.
Shareholder Returns and Capital Management
Total shareholder return for 2025 was 58.5%. Board proposed full-year ordinary cash dividend of $0.34 per share and a special dividend of ~$0.13 per share (including units), for total dividends of ~$0.47 per share — up 38% from FY2024. Share buyback program (US$500m) launched in July 2025; ~13 million shares repurchased for ~$116 million so far.
Stronger Recurring Income and Cash Metrics (New Keppel)
Recurring income rose 21% to $941 million (FY2025) and New Keppel's net debt-to-EBITDA improved to 2.0x from 2.3x a year earlier. Free cash inflow for the New Keppel (excluding noncore/discontinued operations) was reported at $177 million.
Operational Backlog and Long-Term Contracts
Long-term supply contracts in non-power infrastructure grew by over $1 billion year-on-year to $7.1 billion (revenues to be earned over 10–15 years). Around 67% of Infrastructure power generation capacity is contracted for 3 years or longer.
Strategic Network and Connectivity Wins
Bifrost subsea cable commenced commercial traffic in December 2025; first two fiber pairs committed and expected to generate, on average over 25 years, about $200 million in O&M fees per fiber pair. Additional binding term sheet signed for another fiber pair in January 2026.
SG:BN4 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SG:BN4 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 04, 2026 | S$10.95 | S$11.62 | +6.12% |
Jul 30, 2025 | S$8.04 | S$8.32 | +3.48% |
Apr 23, 2025 | S$6.11 | S$6.29 | +2.95% |
Feb 04, 2025 | S$6.33 | S$6.38 | +0.79% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Keppel Corporation Limited (SG:BN4) report earnings?
Keppel Corporation Limited (SG:BN4) is schdueled to report earning on Apr 16, 2026, TBA (Confirmed).
What is Keppel Corporation Limited (SG:BN4) earnings time?
Keppel Corporation Limited (SG:BN4) earnings time is at Apr 16, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is the P/E ratio of Keppel Corporation Limited stock?
The P/E ratio of Keppel Corporation Limited is N/A.
What is SG:BN4 EPS forecast?
Currently, no data Available